A turnaround isn’t progressing as quickly as expected.

The chairman of Novartis says it’s possible the pharmaceutical company will sell Alcon, its eyecare unit.

A planned turnaround at Alcon isn’t progressing as quickly as Novartis officials had hoped, Reuters reports.

Chairman Joerg Reinhardt told the Switzerland-based publication SonntagsZeitung that for the long term, “the question arises as to whether we are the best owner for Alcon.”

Alcon, whose U.S. headquarters are in Texas, makes items including contact care products, ophthalmic pharmaceuticals, dry eye products and ocular vitamins. Novartis took ownership of the company through several deals totaling $51 billion.

Reinhardt said Novartis continues to try to turn the company around. For this quarter, he anticipates Alcon sales being flat, or even down a bit, according to SonntagsZeitung.

According to Reuters, Novartis “has blamed a failure to innovate and inconsistent customer service” for Alcon’s issues.

Read more at Reuters



You may think you’re ready for a Medicare Audit. But are you? Little things count—but they can mean the difference between a great outcome and one that leaves you out in the cold. Don’t get swallowed up by the audit machine. Get this free guide to preparing for — and surviving — a Medicare Audit. Simply fill out the form to the right to access the information. Because you can survive “Audit Hell” if you’re prepared. Download Audit Kit ➡

Promoted Headlines